House Hack Mastermind #9: Newbie House Hackers: Room by Room vs Airbnb

It has been over five months since we recorded a Mastermind Podcast, but we’re back and this is one you do not want to miss. Chris and I sat down with Stephen Witkowski, a Rent by the Room House Hacker living in Arvada, and Vince Arena, a short-term rental/ Airbnb House Hacker in Wheat Ridge.  Why I love this episode: You are able to see the true value of masterminding and connecting with like-minded investors.  Three Learning Options! Listen to the podcast “#345: House Hack Mastermind #9: Newbie House Hackers: Room by Room vs Airbnb” on the Denver Real Estate Investing Podcast Watch the YouTube video (at the bottom). Read the blog post. Note, the blog is an executive summary. Get the in-depth breakdown from the podcast or video. Today We Discuss: Stephen’s current house hack overview (03:25) Vince current house hack overview  (05:44) How to maximize what you are purchasing now to get your best returns 5-10 years down the road (10:57) House Hacking with a new build townhouse (18:45) Parts of Denver where we are constantly seeing House Hack style properties  (22:57) Furnishing Vince’s Airbnb (23:57) Automated pricing through PriceLabs (31:26) Vince’s plan for stabilizing House Hack #1 and criteria for House Hack #2 (34:02) Quote of the day: “You are going to learn as you go and make mistakes, just don’t make the big ones” Stephen’s Father Guests for the Ninth Episode Stephen Witkowski House Hacker (Rent by the Room) Stephen always knew he wanted to invest in real estate but did not know about the 5% down payment option. Three months later, he purchased his first property. He’s extremely busy with his current day job doing software sales and traveling almost every week. He needed to find something easy, and have an army to help in the maintenance of the house, such as his dad and roommate. Contact info: [email protected] 413-358-2252 Stephen worked with agent Lauren Valinoti to find his property. Vince Arena House Hacker (Airbnb) Vince stumbled into real estate investing about three years ago while living in Philadelphia and ended up doing a live-in flip. He realized how powerful this type of investing could be and started consuming as much content as he could. He sold his house in Philadelphia when he moved to Denver, bought his current property, and has been house hacking by listing it as a short-term rental using Airbnb. Contact Info [email protected]  610-909-8021 More Info Airbnb Link Bigger Pockets Success Story Vince worked with agent Preston Newberry to find his property. Hosts of the House Hack Mastermind Series Ben Einspahr Active local House Hacker (currently on HH#2!) and Short-Term and Medium-Term House Hacking Specialist House Hacking Discovery Call with Ben Airbnb – Arvada Mother-in-Law Airbnb – Wheat Ridge Town House [email protected] 402-850-3003 Jeff White Active local House Hacker (currently on #5 House Hack!) and House Hacking Specialist BiggerPockets [email protected] 720-951-6868 To join the official Colorado House Hacking community, visit the Colorado House Hackers Facebook page. YouTube Video House Hack Mastermind #9: Newbie House Hackers: Room by Room vs Airbnb